Confidence in European insurers drops

Five-year subordinated credit default swap (CDS) spreads referencing UK insurance group Aviva widened to 670.87 basis points at 12:30pm London time from 515bp at the close of New York trading yesterday. Local rival Prudential saw spreads on its subordinated debt reach 1000bp from 802.51bp, according to data from credit information specialist CMA Datavision.

Elsewhere, Zurich Insurance saw its subordinated CDSs moved out to 249.14bp from 200.4bp and the cost of protection on Assicurazioni Generali

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: